Production and Operations Analysis, Seventh Edition
7th Edition
ISBN: 9781478623069
Author: Steven Nahmias, Tava Lennon Olsen
Publisher: Waveland Press, Inc.
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Chapter 5, Problem 49AP
Summary Introduction
Interpretation:Number of handbags demanded are to be calculated.
Concept Introduction: Laplace distribution is a continuous probability distribution in which two independent exponential functions are evaluated. These exponential functions are independent of each other with different parameters
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Students have asked these similar questions
cosmetics manufacturer's marketing department has developed a linear trend equation that can be used to predict annual sales of its popular Hand&Foot Cream.
F t = 80 + 15t
where
Ft = Annual sales (000 bottles)
t is in years
Are annual sales increasing or decreasing? By how much?
3. Quarterly sales of a car dealer exhibit an almost constant mean over time, but sales fluctuate
depending on the quarter of the year (exhibits seasonality).
Quarter
Q1 - Spring
Q2 - Summer
Q3 - Fall
Q4 - Winter
Mean
Year 1
32
74
53
22
45.25
Year 2
30
71
63
15
44.75
Year 3
35
83
45
19
45.5
(a) Using three years' worth of quarterly data that is provided, develop a set of seasonal factors that
could be used to forecast car sales
(b) Forecast car sales in each of the four quarters (Q1-Q4) of the following year (Year 4), using these
seasonal factors.
DFC Company has recorded the past years sales for the company:
Year(t)
Sales(x)
(in Million Pesos)
2011(1)
2012(2)
2013(3)
2014(4)
2015(5)
2016(6)
2017(7)
2018(8)
2019(9)
2020(10)
219
224
268
272
253
284
254
278
282
298
Use the naïve model. Compute for MAE and MSE
Use a three period moving average. Compute for the MAE and MSE
Use the simple exponential smoothing to make a forecasting table. Compute the MAE and MSE of the forecasts. Alpha = 0.1
Use the least square method to make the forecasting table. Compute the MAE and MSE
*** Use excel or r programming
Chapter 5 Solutions
Production and Operations Analysis, Seventh Edition
Ch. 5.2 - Prob. 1PCh. 5.2 - Prob. 2PCh. 5.2 - Prob. 4PCh. 5.3 - Prob. 7PCh. 5.3 - Prob. 9PCh. 5.3 - Prob. 12PCh. 5.5 - Prob. 16PCh. 5.5 - Prob. 18PCh. 5.6 - Prob. 21PCh. 5.7 - Prob. 24P
Ch. 5.7 - Prob. 25PCh. 5.7 - Prob. 26PCh. 5.7 - Prob. 27PCh. 5 - Prob. 28APCh. 5 - Prob. 31APCh. 5 - Prob. 32APCh. 5 - Prob. 33APCh. 5 - Prob. 37APCh. 5 - Prob. 38APCh. 5 - Prob. 40APCh. 5 - Prob. 41APCh. 5 - Prob. 43APCh. 5 - Prob. 44APCh. 5 - Prob. 45APCh. 5 - Prob. 46APCh. 5 - Prob. 47APCh. 5 - Prob. 48APCh. 5 - Prob. 49APCh. 5 - Prob. 50APCh. 5 - Prob. 51AP
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